Great credit card to build US credit.
#1
Forum Regular
Thread Starter
Joined: Jun 2010
Posts: 54
Great credit card to build US credit.
I have been in the states now for 12 months and building credit has been a nightmare. (I got refused a target store card 4 months ago!). However, things are looking up, i managed to get a co-signer on a car loan, and tonight i got approved for a capital one - Cash Rewards for Newcomers credit card.
Looks like a good option for new expats. You even get 1% cash back
Looks like a good option for new expats. You even get 1% cash back
#4
Just Joined
Joined: May 2011
Posts: 17
Re: Great credit card to build US credit.
I have been in the states now for 12 months and building credit has been a nightmare. (I got refused a target store card 4 months ago!). However, things are looking up, i managed to get a co-signer on a car loan, and tonight i got approved for a capital one - Cash Rewards for Newcomers credit card.
Looks like a good option for new expats. You even get 1% cash back
Looks like a good option for new expats. You even get 1% cash back
Rang the bank after a month and asked for a credit card, got one with $1000 limit, didn't need to put any money onto it either.
#7
Re: Great credit card to build US credit.
Lol. True that.
My point was, there is no point comparing a case where OP wants CC and has no credit vs someone who brought in say 100k from UK. Of corse BOA will bend over backwards.
My point was, there is no point comparing a case where OP wants CC and has no credit vs someone who brought in say 100k from UK. Of corse BOA will bend over backwards.
#9
Just Joined
Joined: May 2011
Posts: 17
Re: Great credit card to build US credit.
They seem to be one of the only banks that will use an international credit rating.
We do have to provide quite a lot of paperwork though to the underwriters (ie tax returns, proof that we are renting out our house back home, employment letter, breakdown of pay for the past three years etc etc).
We are only putting 25% down payment, and the loan is quite small, about $115,000.
#10
Re: Great credit card to build US credit.
You could say that about any banking product. Everything is fine until something is not, and then you find out who the good banks are. BofA is not known for being one of them.
#11
BE Forum Addict
Joined: Jun 2005
Posts: 1,131
Re: Great credit card to build US credit.
#12
Re: Great credit card to build US credit.
Capital one was a first credit card that I applied for when I got my SS number and believe it or not my credit limit was 10k. Yes on first card. I couldn't believe it too. But I believe it had to do with something that my ex-wife put me on her credit card (Citi bank I believe) so that is why they gave me 10k. However, a friend of mine, when she got her SSN and had no credit at all she told me she applied with capital one as well and they approved her for 1000 dollars. I think thats pretty good for a first card with no credit history.(it was Capital One as well) So yes Capital one if I was you I would deff. give it a try. Let us know how it went :-)
#13
Forum Regular
Joined: Mar 2011
Posts: 180
Re: Great credit card to build US credit.
I thought this Capital One card sounded good and decided to apply. After a week I got a letter saying I had been declined. The reason was - Based on the credit report from Equifax/Experian/Trans Union for x, credit bureau information is missing or unavailable.
How the hell can they advertise the card as -
New country, new credit — start building today!
Summary of Key Benefits:
A card designed to help those new to the U.S. build credit
with automatic reporting to three major credit bureaus
A complete waste of time!
How the hell can they advertise the card as -
New country, new credit — start building today!
Summary of Key Benefits:
A card designed to help those new to the U.S. build credit
with automatic reporting to three major credit bureaus
A complete waste of time!
#14
Re: Great credit card to build US credit.
I thought this Capital One card sounded good and decided to apply. After a week I got a letter saying I had been declined. The reason was - Based on the credit report from Equifax/Experian/Trans Union for x, credit bureau information is missing or unavailable.
How the hell can they advertise the card as -
New country, new credit — start building today!
Summary of Key Benefits:
A card designed to help those new to the U.S. build credit
with automatic reporting to three major credit bureaus
A complete waste of time!
How the hell can they advertise the card as -
New country, new credit — start building today!
Summary of Key Benefits:
A card designed to help those new to the U.S. build credit
with automatic reporting to three major credit bureaus
A complete waste of time!
Try a BofA secured card, and then switch your business to a better card as soon as your rating's up (but don't cancel the BofA one, just convert it to a fee-free product).
#15
BE Enthusiast
Joined: Jun 2011
Location: California
Posts: 471
Re: Great credit card to build US credit.
I thought this Capital One card sounded good and decided to apply. After a week I got a letter saying I had been declined. The reason was - Based on the credit report from Equifax/Experian/Trans Union for x, credit bureau information is missing or unavailable.
How the hell can they advertise the card as -
New country, new credit — start building today!
Summary of Key Benefits:
A card designed to help those new to the U.S. build credit
with automatic reporting to three major credit bureaus
A complete waste of time!
How the hell can they advertise the card as -
New country, new credit — start building today!
Summary of Key Benefits:
A card designed to help those new to the U.S. build credit
with automatic reporting to three major credit bureaus
A complete waste of time!
We just got one through HSBC (via AIG/Travelguard expat programme) with a 10K limit, oddly it's the first time I have ever had a credit card ...I feel the shops calling me